Carlyle Secured Lending, Inc. · NASDAQ:CGBD
Carlyle Secured Lending — Q4 2024 Earnings Presentation
16 slides from Carlyle Secured Lending's earnings presentation, Mar 31, 2025
Slide 1: Carlyle Secured Lending III (CSL III) Quarterly Update December 31, 2024
Exhibit 99.1 Carlyle Secured Lending III ( CSL III ) Quarterly Update December 31, 2024
Slide 2: Disclaimer and Forward-Looking Statement
Disclaimer and Forward-Looking Statement This presentation (the “Presentation”) has been prepared for former investors in Carlyle Secured Lending III ( CSL III” or the “Company”) to provide them with historical information regarding the performance of the Company during the fourth quarter of 2024. O
Slide 3: Q4 2024 Executive Summary
Q4 2024 Executive Summary MARKET BUSINESS PORTFOLIO & INVESTMENT COMMENTARY UPDATES ACTIVITY (2) • Total investments based on fair value were • Carlyle's direct lending platform achieved • Quarterly net total return of 2.1% was approximately $433 million as of record highs for deployment in both the
Slide 4: Portfolio Update
Draft SECTION 01 Portfolio Update
Slide 5: Q4 2024 Quarterly Snapshot
Q4 2024 Quarterly Snapshot Quarterly Activity $45M $85M $269M $292M / 100% (1) (2) (1) CAPITAL CALLED INVESTMENT FUNDINGS NET ASSETS CUMULATIVE CAPITAL CALLED Fund Capital Overview $433M $191M 0.7x $20.76 (3) (4) INVESTMENTS, AT FAIR VALUE TOTAL DEBT OUTSTANDING LEVERAGE RATIO NAV PER SHARE (4) Perf
Slide 6: Q4 2024 Quarterly Results
Q4 2024 Quarterly Results • For the year ended December 31, 2024, NAV per share was $20.76 • For the three months ended December 31, 2024, NII per Share was $0.59 and Net Income per Share was $0.53 Summary Balance Sheet Q3 2024 Q4 2024 ASSETS Total investments, at fair value $ 385,594 $ 433,208 Cash
Slide 7: Q4 2024 Portfolio Summary
Q4 2024 Portfolio Summary Total investments at Fair Value $433 (4) (4) Floating Rate Senior Secured Exposure Weighted Average Yield on Debt and Income 99% 99% 10.7% (1) Producing Investments at Amortized Cost Number of investments 123 Number of portfolio companies 91 Company EBITDA Sponsored (3) (2)
Slide 8: Q4 2024 Portfolio Overview
Q4 2024 Portfolio Overview 10 Largest Positions INVESTMENT TYPE COST ($M) FV ($M) % OF FV INDUSTRY First Lien Debt 14.9 15.1 3.5% Consumer Services 1 North Haven Fairway Buyer, LLC 2 Ascend Buyer, LLC First Lien Debt 14.3 14.6 3.4% Containers, Packaging & Glass 3 Avalara, Inc. First Lien Debt 14.0 1
Slide 9: Risk Rating Distribution
Risk Rating Distribution • As of December 31, 2024, two borrowers were on non-accrual status, representing 0.0% of total investments at cost and 0.0% of fair value. PORTFOLIO RISK RATINGS (Dollar amounts in thousands) September 30, 2024 December 31, 2024 Internal Risk Rating Fair Value % of Fair Val
Slide 10: Net Asset Value Per Share Bridge
Net Asset Value Per Share Bridge Q4 2024 Full Year 2024 Note: The net asset value per share and dividends declared per share are based on the shares outstanding at each respective quarter-end. Net investment income per share and net change in realized and unrealized appreciation (depreciation) per s
Slide 11: CSL III Q4 2024 New Investment Activity
CSL III Q4 2024 New Investment Activity During Q4 2024, CSL III committed $87.2MM across 10 new platform investments and 10 incremental financings for existing borrowers at a blended weighted average yield of ~9.4% INVESTMENT (1) INVESTMENT TYPE SPREAD OID ALL-IN YIELD AMOUNT ($MM) 1 AMPERSCAP LLC F
Slide 12: CSL III Q4 2024 New Investment Activity
CSL III Q4 2024 New Investment Activity During Q4 2024, CSL III committed $87.2MM across 10 new platform investments and 10 incremental financings for existing borrowers at a blended weighted average yield of ~9.4% INVESTMENT (1) INVESTMENT TYPE CASH SPREAD OID ALL-IN YIELD AMOUNT ($MM) 15 Qnnect, L
Slide 13: Appendix
Draft SECTION 02 Appendix
Slide 14: Carlyle Firm Overview
1 Carlyle Firm Overview Firm Overview 3 4 $192 bn AUM 190+ investment professionals Global Credit Founded: 1987 AUM: $441 bn Global $164 bn AUM 425+ investment professionals Private Equity Employees: 2,300+ 2 Investment Professionals: 725+ $85 bn AUM 105+ investment professionals G
Slide 15: Carlyle Global Credit Platform
Carlyle Global Credit Platform 1 CARLYLE GLOBAL CREDIT – $192BN AUM LIQUID CREDIT PRIVATE CREDIT REAL ASSETS CREDIT ASSET-BACKED FINANCE AUM: $50.0 billion AUM: $30.4 billion AUM: $19.4 billion AUM: $7.6 billion Directly originated Carlyle managed CLOs Commercial aircraft DIRECT loans, primarily
Slide 16: Carlyle Direct Lending Investment Philosophy & Overview
Carlyle Direct Lending Investment Philosophy & Overview Carlyle Direct Lending seeks to operate in the middle market, utilizing an integrated platform sourcing approach Note: Comments made here are based on Carlyle's subjective views. Past performance is not indicative of future results. There can b
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